Bangladesh's foreign exchange reserves declined by 1.23 billion U.S. dollars to 18.61 billion dollars by the end of November 2024, the latest central bank data indicated.
The Bangladesh Bank data showed the country's foreign exchange reserves stood at 18,611.40 million dollars on Nov. 28, the last working day of the month, according to the International Monetary Fund (IMF) calculation method, Xinhua news agency reported.
However, the central bank reported that gross reserves were at 24.35 billion dollars by the end of November.
The reserves calculated based on the IMF's balance of payments and investment position manual method were immediately usable, while gross reserves were also usable subject to the realization of investment.
Bangladesh's forex reserves, which can pay for six months' import bills, are sufficient for a growing economy. Bangladesh central bank officials said that with the existing reserves, it can pay almost four months' import bills.
Bangladesh's gross foreign exchange reserves reached an all-time high of 48 billion dollars in August 2021.
In a bid to boost shrinking forex reserves, the central bank has taken various measures including incentives to woo more remittances from millions of Bangladeshi people living and working abroad in recent years.
Remittances to the country totalled 11.13 billion dollars in the July-November period, official data showed.
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